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Bharti Axa General Insurance ties up for micro finance
Bharti AXA General Insurance, one of the largest players in private sector, joined hands with Anjali Micro-finance and Arohan Financial Services to kick-start the distribution of its insurance services for rural population in East and Northeast India.
The tie-ups would enable the Rs 340 crore company to service low income households not only in West Bengal, Orissa and Bihar, but also in several Northeastern states, including Assam, said Dr Amarnath Ananthanarayan, Chief Executive Officer, Bharti AXA General Insurance.
Speaking to newspersons after the formal tie-up, he said, ‘We are keen on bringing the insurance solutions to the doorsteps of larger rural Indian population and hope to explore more such partnerships to increase our pan India footprint. ‘ Through its tie-up with Anjali Microfinance, Bharti AXA General Insurance would provide its group health product to the members of micro-finance institute, while the agreement with Arohan Financial Services would enable it to offer its group personal accident cover to larger number of beneficiaries, Mr Ananthanarayan added.
He said the products designed with Anjali Microfinance covered hospitalisation for 55 ailments with a sum insured ranging from Rs 800 to Rs 12,000.
The product would also cover domiciliary hospitalisation as well as pre and post-hospitalisation care up to predefined limits, maternity cover, transportation allowance in case of emergency admission, wage compensation and group personal accident cover.
Similarly with Arohan, Bharti would offer a group personal accident cover with a maximum sum insured of Rs 25,000, besides additionally covering the funeral expenses in case of death.
Other products included a child’s education fund for a maximum of two children, Bharati AXA General Insurance CEO said adding the company would also assist in training the field staff from these institutes about all products and their benefits.
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